Economists assume people's tastes are identical
Indicate whether the statement is true or false
FALSE
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A copyright gives the owner all of the following exclusive rights except which one?
A) distribution rights B) adaptation rights C) public performance rights D) trade secret rights
The economy's self-correcting mechanism always tends to push the unemployment rate back toward a specific rate of unemployment called
a. the ideal rate of unemployment. b. the natural rate of unemployment. c. the full rate of unemployment. d. the mature rate of unemployment.
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were to open to trade, which amount of surplus would be transferred?
A. Area DE would be transferred to the consumer. B. Area FG would be transferred to the consumer. C. Area FG would be transferred to the producer. D. Area DEFG would be transferred to the consumer.
If the stock of physical capital remains constant while employment rises, output
a) initially declines, then eventually rises b) increases at an increasing rate c) remains constant in real terms d) increases at a decreasing rate e) fluctuates with the price level